The stock of Fastenal Co. (NASDAQ:FAST) last traded at $57.24, up 0.28% from the previous session.
Data from the available sources indicates that Fastenal Co. (NASDAQ:FAST) is covered by 16 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $66.00 and a low of $55.00, we find $58.00. Given the previous closing price of $57.08, this indicates a potential upside of 1.61 percent. FAST stock price is now 1.58% away from the 50-day moving average and 4.63% away from the 200-day moving average. The market capitalization of the company currently stands at $32.71B.
In total, 11 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $58.64 as their price target over the next twelve months.
With the price target of $59, HSBC Securities recently initiated with Hold rating for Fastenal Co. (NASDAQ: FAST).
In other news, Owen Terry Modock, CHIEF OPERATING OFFICER sold 63,332 shares of the company’s stock on Oct 24. The stock was sold for $3,625,143 at an average price of $57.24. Upon completion of the transaction, the CHIEF OPERATING OFFICER now directly owns 7,000 shares in the company, valued at $0.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 21, Director WISECUP REYNE K sold 19,564 shares of the business’s stock. A total of $1,110,912 was realized by selling the stock at an average price of $56.78. This leaves the insider owning 20,000 shares of the company worth $1.14 million. Insiders disposed of 55,188 shares of company stock worth roughly $3.16 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FAST stock. A new stake in Fastenal Co. shares was purchased by LGT GROUP FOUNDATION during the first quarter worth $24,097,000. M&G INVESTMENT MANAGEMENT LTD invested $10,030,000 in shares of FAST during the first quarter. In the first quarter, BEDRIJFSTAKPENSIOENFONDS VOOR DE MEDIA PNO acquired a new stake in Fastenal Co. valued at approximately $7,441,000. UNISUPER MANAGEMENT PTY LTD acquired a new stake in FAST for approximately $6,354,000. WBI INVESTMENTS, INC. purchased a new stake in FAST valued at around $4,696,000 in the second quarter. In total, there are 1,405 active investors with 81.07% ownership of the company’s stock.
With an opening price of $57.14 on Thursday morning, Fastenal Co. (NASDAQ: FAST) set off the trading day. During the past 12 months, Fastenal Co. has had a low of $45.70 and a high of $60.93. As of last week, the company has a debt-to-equity ratio of 0.16, a current ratio of 4.71, and a quick ratio of 2.45. According to the stock market information, the enterprise value for the company is $32.86B, which is based on a 28.91 price-to-earnings ratio, a 4.57 price-to-earnings-growth ratio, and a beta of 1.12. The fifty day moving average price for FAST is $56.35 and a two-hundred day moving average price translates $54.75 for the stock.
The latest earnings results from Fastenal Co. (NASDAQ: FAST) was released for Sep, 2023. According to the Industrial Distribution Company, earnings per share came in at $0.52, beating analysts’ expectations of $0.5 by 0.02. This compares to $0.50 EPS in the same period last year. The net profit margin was 15.57% and return on equity was 34.23% for FAST. The company reported revenue of $1.85 billion for the quarter, compared to $1.8 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.41 percent. For the current quarter, analysts expect FAST to generate $1.75B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/24/2023. Investors who held shares on 10/26/2023 were paid a $0.35 dividend. On an annualized basis, this represents a $1.38 dividend and a 2.42% percent yield. There was an ex-dividend date of 10/25/2023 for this dividend. In terms of dividend payout ratio, FAST is presently at 65.67%.
Fastenal Co.(FAST) Company Profile
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines. It also offers miscellaneous supplies and hardware, including pins, machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, rivets, and related accessories. The company serves the manufacturing market comprising original equipment manufacturers; maintenance, repair, and operations customers; and non-residential construction market, which includes general, electrical, plumbing, sheet metal, and road contractors. It also serves farmers, truckers, railroads, mining companies, schools, and retail trades; and oil exploration, production, and refinement companies, as well as federal, state, and local governmental entities. Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota.
